MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

PLN: Zloty On Back Foot, EUR/PLN Moves Away From Support Around 4.25

PLN
PolandCEEMEAEM BulletBulletGlobalEmerging Market NewsRegion

EUR/PLN sold off sharply through support from Aug 16 low of 4.2614 yesterday but losses were contained just above the 4.25 mark. The pair corrected the move this morning as sentiment turned slightly more cautious, while some participants may have decided to take profit in the vicinity of a psychologically significant support zone. Bears need a clean break below 4.25 (and earlier cyclical lows of 4.2471) to gain a fresh impetus. Bulls look for a rebound towards Aug 28/Sep 12 highs of 4.3039/43.

  • The government's efforts to contain and repair the damage from recent floods continue to draw attention. Parliament will debate the government's initial response later today, while the cabinet will hold an extra meeting this weekend to decide whether there is a need to amend the budget.
  • POLGBs have gently softened, with the curve running marginally flatter. The Finance Ministry holds a bond auction today, offering to sell PLN6bn-10bn of OK0127, PS0729, WZ0330, DS0432, DS1034 and IZ0836 bonds.
  • The WIG20 Index is slightly weaker on the session, struggling to pierce resistance around the 2,350 figure.
174 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

EUR/PLN sold off sharply through support from Aug 16 low of 4.2614 yesterday but losses were contained just above the 4.25 mark. The pair corrected the move this morning as sentiment turned slightly more cautious, while some participants may have decided to take profit in the vicinity of a psychologically significant support zone. Bears need a clean break below 4.25 (and earlier cyclical lows of 4.2471) to gain a fresh impetus. Bulls look for a rebound towards Aug 28/Sep 12 highs of 4.3039/43.

  • The government's efforts to contain and repair the damage from recent floods continue to draw attention. Parliament will debate the government's initial response later today, while the cabinet will hold an extra meeting this weekend to decide whether there is a need to amend the budget.
  • POLGBs have gently softened, with the curve running marginally flatter. The Finance Ministry holds a bond auction today, offering to sell PLN6bn-10bn of OK0127, PS0729, WZ0330, DS0432, DS1034 and IZ0836 bonds.
  • The WIG20 Index is slightly weaker on the session, struggling to pierce resistance around the 2,350 figure.